REACH (5256) Reach能源 - [REACH ENERGY BHD,North Kariman油田将拿到试生产许可证,正在进行流水线设计和安装工作,从该油田生产约1,000 bopd,NK-3勘探井的钻探已达到4020米] - James的股票投资James Share Investing


 [REACH ENERGY BHD,North Kariman油田将拿到试生产许可证,正在进行流水线设计和安装工作,从该油田生产约1,000 bopd,NK-3勘探井的钻探已达到4020米]

截至2018年6月30日止第二季度,这集团的收入较上年同期增长66.1%(2,700万令吉),对比2017年第二季度收入为4,070万令吉。收入增长主要归因于产量增加,2018年3月拥挤的石油出口交通量导致第一季度的收入延迟进账,和世界原油价格的提高。2018年第二季度的平均产量为2,900 bopd,而2017年第二季度为2,500 bopd。

随着成本优化工作的继续,本季度的运营支出(不包括DD&A)仍然与2017年第二季度相同的水平,即使产量增加,也为集团带来了更高的效率。由于2018年第二季度收入增加及成本控制有效,这集团录得利息,税项,折旧及摊销前利润(EBITDA)增加1510%(2,990万令吉),而2017年第二季则为190万令吉。

2018年第二季度的240万令吉的财务收入包括未实现的外汇收益1540万令吉和1300万令吉应付给公司股东的利息。由于收入增加及融资成本下降,这集团于二零一八年第二季录得税前利润1260万令吉,而二零一七年第二季则录得税前亏损2,310万令吉。税后利润亦由2018年第一季度的-RM2730万(亏损),改善到2018年第二季度的+460万令吉(利润)。目前,集团的每股净资产为0.74令吉,而2018年8月24日的每股价格为0.26令吉。

这集团本季度的收入从2018年第一季度的4250万令吉增加58.6%或2500万令吉至6770万令吉,主要原因是世界原油价格上涨以及2018第一季度的递延销售额。

对于本季度,运营支出与前一季度几乎保持相同水平,但收入更高。利息,折旧,摊销和税前收益(EBITDA)显着增加288%(2220万令吉),相比2018年第一季度为770万令吉。

本季度,这集团税前利润为1260万令吉,税后利润为460万令吉,而2018年第一季度税前亏损4090万令吉,税后亏损2730万。这些积极的结果归因于美元兑马来西亚令吉走强,收入增加,外汇波动有利。

这集团于二零一八年六月三十日本季度和累计季度录得税前利润1260万令吉及税前亏损2830万令吉,而2017年第二季度税前亏损为2310万令吉及2017年6月30日累计季度税前亏损4010万令吉。 2018年当前季度利润和累计季度损失的显着改善是由于生产水平和油价提高,和财务成本降低所致。

前景:
油田修复工作正在许多方面进行,包括密集的修井运动,以优化目前生产的井并恢复关闭的井库。 North Kariman油田预计不久将拿到试生产许可证,并且正在进行流水线设计和安装工作,以准备在2018年下半年从该油田生产约1,000 bopd。NK-3勘探井的钻探已达到目标深度4020米,目前正在评估中。井的测试要进行以确定潜在的流量。这个高成功率的井将增加North Kariman的产量。计划对这个NK-3井进行多间隔测试程序,这将增加生产稳定性。

REB即将恢复与中央处理设施(CPF)相关的建设工作,因为它是他们提高产量计划的关键因素。在2019年第三季度投入使用时,CPF将把他们的石油处理能力提高到12,000 bopd。这将大大提高他们在不久的将来的收入潜力。

自2018年6月以来,埃米尔石油公司正在将所有油田的油运到新的石油码头。这代表了埃米尔石油公司运营的一个重大变化,即简化了原油的出口和国内原油销售的配送物流,因为将通过管道专门交付给客户。这一举措转化为显着的成本节约,这将对他们的利润作出积极贡献。

为接下来的两个勘探井选择了新的勘探地点,即K-16和WK-1,以履行其2018的勘探承诺。因为它靠近生产区并且靠近基础设施,所以K-16很有可能获得成功。西Kariman-1(WK-1)的位置是为了测试一个重要的结构,与Emir Oil Block南部的一些多产井一致。

通过能力培训,工作分级和继任规划进行的人力资源开发进展顺利,并改善了组织结构和工作流程。预计2018年第三季度的设施维护活动外包将嵌入更多的预防性维护程序,以提高运营设施的可靠性,可用性和可维护性。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.90 in 1 month 20 days, total return is 33.6%

2) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.86 in 16 days, total return is 20.3%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.88 in 1 month 27 days, total return is 10.7%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

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James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

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最终决定永远是你的,谢谢。

James Ng
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[REACH ENERGY BHD, Trial Production licence approval is expected for the North Kariman Field, flowline design and installation work is underway to prepare for production of approximately 1,000 bopd, Drilling of NK-3 exploration well has reached 4020m]

For the second quarter ended 30 June 2018, the Group’s revenue had increased by 66.1% (RM 27.0 million) as compared to the revenue of RM 40.7 million in second quarter 30 June 2017. The revenue increase is mainly attributed to the increase in production volume, higher world crude oil price and deferred revenue from first quarter arising from congested oil export traffic in March 2018. The average production of second quarter 2018 was 2,900 bopd as compared to 2,500 bopd in second quarter 2017.

As the cost optimizing efforts continue, the operating expenses (exclude DD&A) in the current quarter under review has remained at same level as second quarter 2017 even with increased production, which had translated into higher efficiency for the Group. As a result of higher revenue and efficient cost control in the second quarter of 2018, the Group has recorded 1510% (RM 29.9 million) increase in Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) as compared to RM 1.9 million in second quarter of 2017.

The Finance Income of RM 2.4 million in second quarter 2018 consists of unrealised FOREX Gain of RM 15.4 million and RM 13.0 million interest payable to corporate shareholder. As a result of higher revenue and lower finance cost, the Group has recorded Profit before Tax of RM 12.6 million in second quarter 2018 as compared to Loss before Tax of RM 23.1 million in second quarter 2017. Profit after Tax had also improved from –RM 27.3 million (Loss) in first quarter 2018 to +RM 4.6 million (Profit) in second quarter 2018. Currently, the Group’s net asset per share stands at RM0.74 as compared to the closing market price of RM0.26 per share on 24 Aug 2018.

The Group’s revenue for the current quarter under review had increased by 58.6% or RM 25.0 million from RM 42.5 million in first quarter 2018 to RM 67.7 million mainly attributed by the higher world crude oil price and the deferred sales from first quarter of 2018.

For the current quarter under review operating expenses remain almost same level with immediate preceding quarter even though the revenue is higher. The Group had recorded a significant increase of 288% (RM 22.2 million) in Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) as compared to RM 7.7 million in first quarter of 2018.

For the current quarter, the Group had reported Profit before Tax of RM 12.6 million and Profit after Tax of RM 4.6 million compared to the first quarter 2018 Loss before Tax of RM 40.9 million and Loss after Tax of 27.3 million. These positive results were attributed to higher revenue and favorable foreign exchange fluctuation as the US dollar had moved stronger against the Malaysian Ringgit.

The Group recorded a Profit before Tax of RM 12.6 million in the current quarter and Loss before Tax of RM 28.3 million in cumulative quarter of 30 June 2018 as compared to second quarter of 2017 Loss before Tax of RM 23.1 million and cumulative quarter for 30 June 2017 Loss before Tax RM 40.1 million. The significant improvement in current quarter profit and lower loss in cumulative quarter in 2018 were due to increase in production level, oil price and lower finance cost.

Prospects:
Field rehabilitation is proceeding on many fronts, including an intensive Well Workover campaign to optimist currently producing wells and to revitalize shut in well stock. Trial Production licence approval is expected shortly for the North Kariman Field and flowline design and installation work is underway to prepare for production of approximately 1,000 bopd from this field in the second half of 2018. Drilling of NK-3 exploration well has reached target depth at 4020 m, and is currently under evaluation. Well test to be conducted to determine potential flow rates. This well, which has a high chance of success will increase the in-place volumes of North Kariman. A multi interval test programme is planned for this NK-3 well which will add to production stability.

REB is close to resuming the construction work associated with the Central Processing Facility (CPF), as it is a key element to their plans to ramp up production. When commissioned in 3Q 2019, the CPF would enhance their oil handling capacity to 12,000 bopd. This would substantially improve their earning potential in the near future.

Since June 2018 Emir-Oil is transporting all the oil from the fields to a new oil terminal. This represents a significant change in Emir-Oil operations as it simplifies distribution logistics for both export and domestic crude oil sales as the crude oil would be delivered to their customers exclusively via pipelines. This move translates into significant cost savings, which have had a positive
contribution to their bottom line.

New exploration locations, K-16 and WK-1, have been chosen for the next two exploration wells to fulfil their exploration commitment for 2018. K-16 has a high chance of success since it is close to the producing field and in close proximity to the infrastructure. West Kariman-1 (WK-1) is located to test a significant structure in line with some prolific wells to the south of the Emir Oil Block.

Human resource development through competency training, job grading and succession planning is progressing well and has resulted in improved organisational structure and work flow. Outsourcing of facility maintenance activities in 3Q 2018 is expected to embed more preventive maintenance routines to improve reliability, availability and maintainability of operations facilities.
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James Ng Stock Pick Performance:
Since Recommended Return:

1) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.90 in 1 month 20 days, total return is 33.6%

2) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.86 in 16 days, total return is 20.3%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.88 in 1 month 27 days, total return is 10.7%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.



I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

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James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

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Final decision is always yours, thank you.

James Ng

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